AP News

Earnings roundup: BofA, AMR


Among the earnings stories for Wednesday, Oct. 17, from The Associated Press

Top stories:

— American Airlines parent company AMR lost $238 million in the third quarter on employee severance payouts and other costs related to its bankruptcy.

— Bank of America Corp. narrowly turned a profit from July through September, good enough to beat Wall Street expectations.

Other stories:

— The Bank of New York Mellon's net income rose 11 percent in the third quarter, as the company slashed expenses and collected more fees for managing investments.

— Textron Inc. said its third-quarter net income rose 6 percent on higher demand for Bell helicopters and a strong performance from its industrial unit.

— Quest Diagnostics Inc.'s third-quarter earnings slipped 5 percent, as restructuring costs and a drop in clinical testing revenue hurt the medical laboratory operator's performance.


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